To be eligible for an overdraft, you must meet the following criteria:
- You have to be 18 years of age or over.
- You must be a New Zealand citizen or permanent resident.
- You must have a good credit history – this means you haven't been declared bankrupt or you have no unpaid defaults or collections.
- You'll need your regular income to be credited into your Kiwibank account.
- You'll need to meet affordability requirements which relate to your income and expenses.
- You must have a stable employment history and be employed in New Zealand.
We need to be comfortable that your financial situation can support an overdraft. As part of the application, you may need to provide proof of income and you'll need to provide details about your monthly expenses, assets and liabilities. Having this information handy can help speed up the application process. We’ll also do a credit check as part of the application process.